Pfizer Acquires Amplyx Pharmaceuticals: What You Need To Know

Pfizer Inc. PFE has acquired Amplyx Pharmaceuticals Inc., a privately-held company focused on developing therapies for people with compromised immune systems who face debilitating and life-threatening diseases.

Focus on Amplyx: Founded in 2006 and headquartered in San Diego, Amplyx lead drug is Fosmanogepix, a novel investigational asset under development for the treatment of invasive fungal infections, of which there are more than 1.5 million cases worldwide each year, with mortality rates ranging as high as 80%.

According to the companies, only three classes of antifungal medications are currently available and no novel therapeutic class of antifungal therapies has been approved by the U.S. Food and Drug Administration in nearly 20 years.

See Also: Months Before The Olympics Begin, COVID-19 State Of Emergency Declared In Tokyo: Reports

Focus on Pfizer: The financial terms of this acquisition were not disclosed. Pfizer had previously made an initial equity investment in December 2019 as part of Amplyx’s Series C financing.

In addition to Fosmanogepix, Pfizer is taking ownership of Amplyx's early-stage pipeline that includes potential antiviral and antifungal therapies.

While Pfizer has been the center of world attention for its role in the development of the COVID-19 vaccine, the company has also been focused on developing therapies to fight drug-resistant superbugs. Last summer, the company donated $100 million to an Antimicrobial Resistance Action Fund that helps pharmaceutical companies finance the creation of new antibiotics to combat infections that are currently considered untreatable.

See also: How to Buy Pfizer (PFE) Stock

“The COVID-19 pandemic has been a stark reminder of the devastating impact of infectious diseases, highlighting the continuous need for new anti-infective therapies to treat both emerging and difficult to treat bacterial, viral and fungal infections,” said Angela Lukin, global president at Pfizer Hospital. “We are deeply committed to helping patients suffering from infectious diseases, continuously seeking opportunities to build our portfolio of anti-infective therapies.”

(Photo courtesy Montgomery County Planning Commission.)